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Author Topic: Things that still make feel awkward with some online casinos  (Read 936 times)
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May 16, 2023, 09:13:15 AM
 #1

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

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May 16, 2023, 09:17:43 AM
 #2

I honestly observe this with many different crypto websites not even casinos. Some companies try to gain extra money through transactions. I also think its very close to robbery. Online casinos can generate huge amount of money through players/gamblers anyways. I think low fees promote usage anyways. I find it very awkward and disruptive. I think casinos should not treat their customers as cows that they will milk money away.
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May 16, 2023, 09:21:44 AM
 #3

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.
Some hot wallets need to be updated to fit in the current demand as relate to transactions,  not only in casino but even some exchanges have fixed fees that are relatively higher than the regular blockchain fees,  and these fees charges regardless of network conditions make it hard to use some of that platform so best practices are.

Always check the withdrawal fees before making your first deposit, and be sure of what amount you pay for fees at the point of withdrawal.
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May 16, 2023, 10:04:23 AM
 #4

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.
Can you mention the casinos that you saw high withdraw for altcoins? If you think that bitcoin withdrawal is high, you can be using altcoins that has low fee, like litecoin and Tron which I have seen on many gambling site to have a low fee. Also USDT on Tron network and on some other networks has a cheap withdrawal.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.
If you check exchanges, most of them increased their bitcoin withdrawal fee. Taking Binance as an example, the exchange increased the fee from 0.0002 BTC to 0.001 which is far higher than $5 with the recent price of bitcoin. Only the exchange that I am using that is better with very low fee is OKX and the lowest the exchange charges recently that I know is 0.00016 BTC which is more than $4.

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May 16, 2023, 01:29:46 PM
 #5

I honestly observe this with many different crypto websites not even casinos. Some companies try to gain extra money through transactions. I also think its very close to robbery. Online casinos can generate huge amount of money through players/gamblers anyways. I think low fees promote usage anyways. I find it very awkward and disruptive. I think casinos should not treat their customers as cows that they will milk money away.
Only casinos with bad management and practice will do this. Casino's with good management and practice will always want to make sure that they keep things normal for their customers and not extort them with any opportunity they have. Any casino that is identified as doing this cannot be trusted and I will advice anybody gambling on these casinos should immediately withdraw and seek a better and more customer considering casino.
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May 16, 2023, 01:56:23 PM
 #6

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

It's true that withdrawal fees are quite high at casinos, that's probably their strategy go try and convince gamblers to leave their money at the casino and not withdraw immediately after a win. To me it doesn't feel like robbery because the casino also needs some support staff to verify withdrawal request. As long as we know about the high fees before hand there is not an issue as we can factor it in. I still don't feel comfortable of leaving large sums of money at the casino and will rather take it out even with a high withdraw fee. When signing up at a new casino I think it's possible to check out the withdrawal process and it also depends on the type of transaction we choose. I noticed that it's usually the cheapest to withdraw our money in the same way we deposit it.
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May 16, 2023, 02:00:35 PM
 #7

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

You can always check the bitcoin transaction fee checker so that you may know the current status of the network and current recommended fees set. But you can also check if the casino set the high withdrawal fee as default since maybe they do it on purpose to make sure that each transaction will be sent more faster to the owners wallet. But also you can ask the casino representative directly about that since they can explain to you about the fees they set.

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May 16, 2023, 02:08:42 PM
 #8

That was the norm before. 20k - 50k satoshis, I experienced before and so I left that gambling site. If you see then just leave them, you always have a choice. About their high transaction fees, I think it's because they are not using a pool. Sure, it's faster but it ain't cheaper. But if they are charging lower tx fees before and got higher just because of recent events, then you might as well wait for their maintenance so they can fix it back.

For other gambling sites, it sure is a robbery, you might as well pick reputable ones that have lesser transaction fees.
Stake.com is one of the gambling sites that charge less fees. 7k satoshis for Bitcoin at each withdrawal. If you want, you could just use their service instead.

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May 16, 2023, 02:22:43 PM
 #9

Centralized exchange also charge high withdrawal fee, isn't this a robbery too? then why still use a centralized site. You have a choice to gamble with altcoins where you just need to connect through your non custodial wallet without need to transfer your coins to the casino. They will not charge any fee, but make sure you're gamble on a safe web 3.0 casino.
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May 16, 2023, 02:29:46 PM
 #10

you will see this only after you have enough wins or funds for withdrawal.
You don't need to be awkward to make a deposit or make a withdrawal at online casinos at this time, even though the Bitcoin withdrawal fee reaches $ 5, for me it's not an obstacle and a problem for us to make bets.

That is why you have to choose and play at casinos that offer many payment features in various types of crypto, for that, never deposit/withdraw in just one type of crypto, like Bitcoin, choose a few cryptos to make it easy for you to overcome your awkwardness.
Example: features of crypto types such as LTC, Doge and so on.

Talking about costs, many crypto users are currently switching to the LTC feature, whether it's in the deposit or withdrawal method, LTC costs only 0.001LTC for one transaction only spends $ 0.08, one time withdrawal, cheap isn't it.

Actually there are many other alternatives that you can do, at a time like today, Bitcoin withdrawal fees are quite expensive.

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May 16, 2023, 02:46:10 PM
 #11

It's normal, casino is a profit oriented company, so they will charge anything to make profit. Fee for dormant account, withdrawal fee, or even deposit fee is possible implemented by the casino. Although most of casinos are using dynamic fees because of the previous Bitcoin fee suddenly increase, don't expect they only charge money they used to pay the miner. But there are few casinos have free withdrawal that you can check by yourself Withdrawal Fees and Withdrawal Amounts on Crypto Casinos

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May 16, 2023, 03:11:32 PM
 #12

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

The situation with mempool can change at any moment, and no one wants to pay fees to someone else out of their own pocket, and obviously not to constantly adjust them to the current situation, which would certainly be the most fair. If you look at what is currently happening with mempool, you can see that the current medium priority fee is around $3, and in some blocks even more - which again depends on the number of incoming transactions and the number of blocks (4 blocks were found in the last 5 minutes).

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery?
~snip~

Maybe we can talk about something called a service fee, as is the case with CEX. In that case, the price of withdraw does not depend only on the price of the transaction, but also on the service you use.

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May 16, 2023, 03:38:35 PM
 #13

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.
I used to feel annoyed as well but it's probably for the player's convenience why they do this. Can you imagine if they lowered it to 10 sats/vb for your withdrawal and then suddenly the network becomes overloaded? The lowest priority shoot up to 50 sats/vb which means you'll have to wait hours or maybe days before your money arrives at your wallet. You wouldn't want that also unless you're not in a hurry.
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May 16, 2023, 04:42:50 PM
 #14

Centralized exchange also charge high withdrawal fee, isn't this a robbery too? then why still use a centralized site. You have a choice to gamble with altcoins where you just need to connect through your non custodial wallet without need to transfer your coins to the casino. They will not charge any fee, but make sure you're gamble on a safe web 3.0 casino.
What I know is that bitcoin, ether and ERC20 tokens are the ones that requires high fee. On exchanges and centralized gambling sites, the altcoins transactions are not high in fee. If there are still altcoins with high fee, there are still alternatives on most gambling sites that their transactions require low fees. What I think is that some people can be confused if they are only using bitcoin to gamble and what happen to bitcoin network recently can cause panic. I think this is about bitcoin transactions, not crypto transactions, and it should not be generalized on all coins.

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May 16, 2023, 04:51:25 PM
 #15

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.
Agreed. I know there's money that needs to be made and these Sportsbooks and casinos must find a way to make it somehow but this compounding 5 bucks is too much, enough to actually keep them afloat for months on end even if a large portion of their playerbase wins by a large margin. A little sad nothing could really be made to dissuade these casinos from imposing high fees other than boycott.
Centralized exchange also charge high withdrawal fee, isn't this a robbery too? then why still use a centralized site. You have a choice to gamble with altcoins where you just need to connect through your non custodial wallet without need to transfer your coins to the casino. They will not charge any fee, but make sure you're gamble on a safe web 3.0 casino.
What I know is that bitcoin, ether and ERC20 tokens are the ones that requires high fee. On exchanges and centralized gambling sites, the altcoins transactions are not high in fee. If there are still altcoins with high fee, there are still alternatives on most gambling sites that their transactions require low fees. What I think is that some people can be confused if they are only using bitcoin to gamble and what happen to bitcoin network recently can cause panic. I think this is about bitcoin transactions, not crypto transactions, and it should not be generalized on all coins.
The thing is that even when these networks aren't congested and fees are in a reasonable price point, these casinos somehow still charge 5 dollars to upwards of 10 bucks on some sites. This is just plain roadside robbery if you'll ask me! A universal price point must be established to ensure that no one is getting taken advantage of if you'll ask me. Til then we can only hope.

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May 16, 2023, 04:53:05 PM
 #16

Why are some online gambling platforms having high withdrawal fee?
The recommended fee might seem low, but your withdrawal transaction can quickly get pushed back by an hour or longer because tons of transactions are still being sent, and some are willing to pay higher than $1. It happened with one of my transactions yesterday after the fees went as low as 20 sat/b.  

you will see this only after you have enough wins or funds for withdrawal.
If it's not mentioned on the withdrawal page, you can always contact their live support, so you don't have to risk making a deposit and letting it sit at their casino for days. So far, withdrawal fees are probably the least of my worries when i'm using altcoins because even if they don't show the exact amount, it's always smaller than their Bitcoin withdrawal fee.


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May 16, 2023, 05:23:19 PM
 #17

I hope also that some representatives of crypto-active casinos see this thread, after all why should casinos take advantage of gamblers who want to make withdrawals, it's clear they lose a lot of money while playing at the casino why are withdrawals still being charged additional fees while sometimes I know that transaction fees are not as big as requested and used, that's why I rarely find casinos that use XLM crypto because their transaction fees are cheap so it's difficult for casinos to take advantage of crypto.

I also find it too exaggerated for the withdrawal fees some casino sites sometimes they charge a withdrawal fee which is unreasonable even though using the Matic Polygon network it's not expensive but the average average is up to $1 withdrawal fee, it's weird to see, that's why I always choose the casino which is honest and has withdrawal fees that are truly reasonable and normal  Grin

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May 16, 2023, 07:00:54 PM
 #18


I couldn't help but think they are also stealing from us. Taking advantage of the situation since we are trying to avoid withdrawing BTC due to high fees, this time they are also increasing the amount to deduct upon withdrawing altcoins.

I kind of feel the need to ignore it though compare to having to send BTC for more than $10 in 30 minutes. That's the condition for anyone trying to send out, I feel you but the 2nd option may still be a good option.


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May 16, 2023, 07:19:11 PM
 #19

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

Recently fees have been high with Bitcoin transactions because the network was extremely backlogged. I imagine many services had to raise withdrawal fees as a result in order to make sure that their withdrawals go through in a timely manner and that they don’t lose a ton of money in the process. I think a solution might be to give users the option to have a longer withdrawal time with a lower fee so that transactions can be batched and sent with a low fee that might take some time to confirm.

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May 16, 2023, 07:43:43 PM
 #20

~snip~

Cryptocurrencies are highly volatile assets, which means that if the withdrawal fee is set in this asset, it also changes in the dollar equivalent. Casinos and other platforms that work with cryptocurrencies set an average or increased value of the commission, because they cannot change the established commission on a daily basis only because of those who count the commission in dollars. Any of us can compare the commissions of gambling sites and choose the ones they like.

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EUROPEAN
BETTING
PARTNER
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